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    Référence: 20210454
    Date de publication: 25 mars 2022

    Promoteur – Intermédiaire Financier




    The project concerns the Promoter's research and development plan of personalised cell therapies for the treatment of incontinence.

    Additionality and Impact

    The project concerns a venture debt operation under the European Guarantee Fund. The purpose of the loan is to provide direct equity-type financing under the EIB's venture debt instrument to bridge the liquidity needs of Innovacell, a clinical-stage SME specialising in addressing unmet medical needs in the field of faecal and urinary incontinence. The Company is developing innovative autologous cell therapies with the aim of curing faecal and urinary incontinence, which are debilitating conditions that severely impact patients' quality of life, can negatively affect mental health, and place a heavy economic burden on healthcare systems. Thanks to its bullet structure and to the royalty component, the EIB loan will enable the Company to invest in innovation and growth by diversifying its funding sources and crowding in private investors, while limiting cash outflows on the short to medium term.


    The proposed transaction will support the emergence of innovative autologous cell therapies for treating faecal and urinary incontinence with the aim of curing these diseases through regenerative medicine. Faecal and urinary incontinence are debilitating conditions that severely impact patients' quality of life, can negatively affect mental health, and place a heavy economic burden on healthcare systems. The project uses personalised medicine to address a patient population with high unmet medical need, a key pillar of Horizon Europe. The project supports research and development (R&D) efforts conducted in Europe by a small and medium-sized enterprise (SME), thus supporting generation of European scientific knowledge. Funding areas of high scientific innovation, such as regenerative medicine is paramount to developing and retaining European scientific acumen, whilst also contributing to the region's competitiveness.


    • Services - Activités spécialisées, scientifiques et techniques

    Montant BEI envisagé (montant approximatif)

    EUR 15 million

    Coût total (montant approximatif)

    EUR 40 million

    Aspects environnementaux

    The project concerns investments in research and development activities, carried out by the Promoter and its partners in existing facilities without changing their already authorised scope. The project does not fall under the scope of the EIA Directive 2014/52/EU amending Directive 2011/92/EU. The Promoter maintains adequate internal procedures and management practices that are in line with best industry standards (e.g. GMP, etc.) and are subjected to audits. The project will be carried out according to state-of-the-art technology and will take into consideration environmentally friendly, low energy-and-resource consuming technologies.

    Passation des marchés

    The Promoter is a private company, not operating in the utilities sector and which does not have the status of a contracting authority; thus the project is not covered by EU directives on procurement. However, the Promoter's procurement procedures are expected to be in line with EIB guidelines for private sector projects. The Bank's services verified details during the project due diligence.


    Signé - 21/12/2021

    Clause de non-responsabilité

    Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
    Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).

    Mots-clés correspondants

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